Seven new Launches – Record Number of Nordic Hedge Funds

Stockholm (HedgeNordic) – The Nordic Hedge Index (NHX) has been joined by seven hedge funds since the beginning of May, four of which were launched in the second quarter of the year while with Sector Sigma Nordic Fund, a long-short equity fund closed down on April 27, only one fund has been delisted from the NHX. In addition, long/short equity fund Pareto Nordic Alpha plc, launched in September 2003 and merged into Pareto Nordic Omega plc in late April of this year, was replaced with a younger version of the same fund, Luxembourg-domiciled Pareto Nordic Alpha.

In addition to the hedge funds recently added to the NHX, there are at least three Nordic hedge funds scheduled to launch later this year. Nordic Cross Credit Edge, for instance, is an alternative fixed-income fund set to join Nordic Cross Asset Management’s current family of three hedge funds. ProxyPetroleum Long/Short Energy and Proxy Renewable Long/Short Energy are two alternative funds Stockholm-based energy specialist Proxy P Management AB plans to launch in September. The Nordic Hedge Index (NHX) currently comprises a total of 166 hedge funds, an all-time high since HedgeNordic has been tracking the universe.

Brief introductions to the new NHX additions can be found below:

Titan Opportunities Fund

Titan Opportunities Fund is a London-based fund co-founded by Norwegian-born Espen Westeren. The fund combines the cyclical investing experience, distressed investing expertise, and sector specialization of its portfolio management team to invest in equity and credit securities within cyclical and commodities-related sectors. Titan Opportunities Fund has generated a net-of-fees return of 68.8 percent since its inception in June 2016 through the end of June 2018, corresponding to a compound annual return of circa 28.6 percent. Click here to read “Titan Opportunities Joins the NHX.”

Alcur Select

Alcur Select is an alternative investment fund investing in small and medium-sized companies in the Nordic region. Alcur Select is the sister fund of long/short absolute return fund Alcur, the other vehicle managed by Stockholm-based asset manager Alcur Fonder AB. The fund employs a fundamental-driven investment approach to make long-term-oriented investments in the portfolio management team’s best ideas in the Nordic region. Alcur Select was launched in early May 2018 and returned 2.9 percent in the first two months of operations. Click here to read “Freshly Launched Alcur Select Joins the NHX.”

Innolab Capital Index A/S

Innolab Capital Index A/S is an alternative investment fund based on artificial intelligence managed by Danish firm Innolab Capital ApS. Although the AI-powered fund went live at the beginning of May 2017, the management firm was granted permission by the Danish FSA to manage alternative funds and target professional investors in May of this year. Using predictions generated by Crys, an autonomous investment robot that processes and analyses a huge amount of data on a daily basis to predict market movements, Innolab Capital Index A/S invests in five liquid stock indices: S&P 500, Nasdaq 100, DAX 30, Hang Seng, and Nikkei 225. Click here to read “AI-Powered Innolab Capital Index Joins the NHX.”

Catella Credit Opportunity

Catella Credit Opportunity is an absolute return special fund with a broad investment mandate allowing investments across the entire fixed-income spectrum, mainly focusing on corporate bonds issued in the Nordic region. Catella Credit Opportunity, already the fourth member of the NHX managed by Stockholm-based asset manager Catella Fonder, was launched in late November 2014 and has been managed by Thomas Elofsson and Stefan Wigstrand since September 2016. Elofsson and Wigstrand also manage Catella Nordic Corporate Bond Flex, another fixed-income fund under the umbrella of Catella included in the NHX. Click here to read “Catella Credit Opportunity Joins the NHX.”

Yggdrasil Multi-Asset Fund

Yggdrasil Multi-Asset Fund, launched in April 2018 by PFA Asset Management, is a multi-asset hedge fund seeking opportunistic risk premia in liquid products and mature financial markets. The investment objective of the fund is to provide investors with an attractive absolute return. Yggdrasil Multi-Asset Fund may invest in one, several or multiple strategies that may be categorized as hedge fund-like strategies by taking long, short or neutral positions in a broad range of asset classes or sub-asset classes. The fund’s primary geographical focus is the United States, the European Union, the United Kingdom, Switzerland, Norway and Asia.

Danske Invest Fixed Income Macro Hedge

Danske Invest Fixed Income Macro Hedge, one of the two hedge funds Danske Bank Asset Management launched in June 2018, aims to generate absolute returns by investing in bonds and market money instruments on a global scale. The fund applies flexible and dynamic investment strategies, taking both strategic and tactical long and short positions to take advantage of market changes and investment opportunities within fixed-income markets. The fund is managed by Chief Portfolio Manager Søren Mørch, who joined the asset management arm of Danske Bank in January 2018. Click here to read “Freshly Launched Danske Hedge Funds Join the NHX.”

Danske Invest Global Cross Asset Volatility

Danske Invest Global Cross Asset Volatility, also launched in June of this year, seeks exposure to volatility risk premia embedded in equities, fixed income, credit and currencies around the globe with a focus on developed markets. The fund’s volatility-based strategies are implemented using derivatives such as options, futures and swaps, gaining exposure to equities, equity-related instruments, bonds and other debt instruments, money market instruments and currencies. The fund that aims to exploit volatility premiums is managed by Chief Portfolio Manager Jacob Øland Jensen, who had worked in various roles, including portfolio manager, at Danish public fund ATP prior to joining the asset management division of Danske Bank in August 2017. Click here to read “Freshly Launched Danske Hedge Funds Join the NHX.”

About Author

Eugeniu Guzun serves as a data analyst responsible for maintaining and
gatekeeping the Nordic Hedge Index (NHX), as well as being a novice columnist covering the Nordic hedge fund industry for HedgeNordic.
Prior to joining HedgeNordic, Eugeniu had served as a columnist for a U.S. journal covering insider trading activity, activist campaigns and hedge fund moves. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018.